Intech Investment Management LLC Reduces Stock Position in Regency Centers Co. (NASDAQ:REG)

Intech Investment Management LLC lowered its position in Regency Centers Co. (NASDAQ:REG) by 48.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,784 shares of the company’s stock after selling 8,187 shares during the period. Intech Investment Management LLC’s holdings in Regency Centers were worth $634,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of REG. Quest Partners LLC boosted its position in Regency Centers by 25,250.0% during the second quarter. Quest Partners LLC now owns 507 shares of the company’s stock worth $32,000 after purchasing an additional 505 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Regency Centers in the 2nd quarter worth about $44,000. Blue Trust Inc. grew its stake in Regency Centers by 582.1% in the 2nd quarter. Blue Trust Inc. now owns 839 shares of the company’s stock valued at $51,000 after acquiring an additional 716 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Regency Centers by 300.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the company’s stock valued at $58,000 after acquiring an additional 600 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Regency Centers during the second quarter worth about $60,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Regency Centers Stock Performance

Shares of REG stock opened at $75.59 on Friday. The firm has a market capitalization of $13.72 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 4.18 and a beta of 1.21. The company has a 50 day moving average price of $72.58 and a 200 day moving average price of $68.31. Regency Centers Co. has a one year low of $56.51 and a one year high of $76.53. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.95 and a current ratio of 0.95.

Regency Centers (NASDAQ:REG) last issued its earnings results on Monday, October 28th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.50). Regency Centers had a return on equity of 5.85% and a net margin of 27.78%. The firm had revenue of $360.27 million during the quarter, compared to analysts’ expectations of $355.17 million. During the same period last year, the business posted $1.02 earnings per share. Sell-side analysts anticipate that Regency Centers Co. will post 4.28 EPS for the current year.

Regency Centers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 16th will be issued a dividend of $0.705 per share. The ex-dividend date is Monday, December 16th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.73%. This is a boost from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s payout ratio is presently 125.82%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on REG shares. Truist Financial increased their price target on shares of Regency Centers from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. raised their price target on Regency Centers from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Robert W. Baird upped their price objective on Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Evercore ISI raised shares of Regency Centers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Regency Centers from a “buy” rating to a “hold” rating and raised their price target for the stock from $70.00 to $75.00 in a research note on Thursday, September 26th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $77.08.

Regency Centers Company Profile

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers.